The recent advancements in financial technology have expanded ways for innovation to transform the way finances are managed. St. Cloud Financial Credit Union (SCFCU) stands at the forefront of the fintech industry by uniquely embracing innovation. With a mission to create a customized experience for every member, SCFCU is committed to creating a strong foundation for a long-term relationship. The CEO Views celebrates the impeccable achievements of St. Cloud Financial Credit Union and honors it as one of the “Most Innovative Companies to Watch 2025.”
Through this exclusive narrative, we have had the chance to gain insight into the innovation process, technological integration, and sustainability approaches of the company.
LEVERAGING TECHNOLOGY
“St. Cloud Financial Credit Union is committed to making a difference for all members by specifically leveraging fintech partnerships to provide personalized financial solutions that go beyond traditional banking,” shares Jed Meyer, President and CEO of SCFCU.
SCFCU has become the first credit union ever to introduce a groundbreaking CU-Digital Asset Vault™ through its ownership in DaLand CUSO. This safe, compliant, and credit union-backed solution is a first-of-its-kind technology service that allows members to safely and securely store their digital assets.
SIMPLIFYING ONBOARDING
St. Cloud Financial Credit Union has suitable eligibility options for products and services to serve both communities and individuals outside of the direct community. The eligibility options include:
- One must live, work, worship, or attend school in one of these counties of Minnesota: Stearns, Sherburne, Benton, Wright, Meeker, Kandiyohi, and Morrison.
- Employees of the company
- Immediate family member of a current member of the credit union
- Make a qualifying donation to the credit union’s TriUnity Foundation.
Meeting each member and learning about their needs and goals makes the onboarding process smoother. By combining thoughtful conversations with simple digital tools, like ID scanning and guided workflows, SCFCU reduces friction and helps members get started with confidence.
ENHANCING PERSONAL AND BUSINESS BANKING
In the SCFCU’s online banking, members receive alerts on accounts, can manage their debit and credit cards all in one place, make a mobile deposit from any location, transfer funds to another member, link external accounts, and more.
The business banking service allows business members to see and access accounts, link external bank accounts, add sub-users with custom access, save money with ACH services while streamlining vendor payments, transfer while reducing transaction fees, take care of employee payroll, provide employees with direct deposit payroll, and more. The Cannabis Banking also gives business members a safe place to deposit their funds.
MODERNIZED LOAN APPLICATION
St. Cloud Financial Credit Union creates unique and innovative loan options as per members’ needs, regardless of their life stages. SCFCU has diverse loan options for its members, from auto, home, and recreational to personal and student loans. It also offers credit cards with fixed rates as low as 9.99% APR for personal or business use.
ACCESSIBILITY, SECURITY, AND CONVENIENCE
The secure and easy-to-use online banking offers financial information to its members anywhere and at any time. The 24/7 online banking allows members to deposit, transfer funds, access bill pay services, link external bank accounts, access bank statements and eStatements, and more.
SCFCU’s online banking features Touch ID or Face ID for a faster, more secure sign-in facility with the added security of one-time passcodes. Members can customize displays, easily check balances on their smartphone or smartwatch, and access user-friendly tools for budgeting, saving, and free credit score access.
FINANCIAL PLANNING AND INVESTMENT SERVICES
With over 30 years of combined experience, SCFCU’s team of experts understands the importance of trusted relationships when it comes to helping our members find the right solutions. The company offers personalized and comprehensive investment, retirement, and insurance services through the Principal® Financial Network of Minnesota.
SCFCU’s investment services team assists with 401(k) plans, IRA rollovers, retirement planning, college funding options, asset allocation strategies, IRAs (Traditional, Roth, SIMPLE, and SEP), and more. The team also helps with asset protection to help safeguard members’ financial goals, from estate planning to trust investments, life insurance policies and planning, long-term care insurance, and more.
BEYOND BEING GREEN
“At St. Cloud Financial Credit Union, sustainability isn’t just about being green—it’s about being here, for good,” shares Meyer. To SCFCU, sustainability means building a credit union that lasts because it matters. It means living out the company’s mission: To make a meaningful difference for all. SCFCU achieves sustainability by constantly aligning its actions with the purpose-driven values, such as passionmatters, united we make a difference, people are trustworthy and unique, and more. Its sustainability initiatives encompass supporting local food shelves, collaborating with non-profits, and putting purpose into action.
INNOVATION IN CUSTOMER SERVICE
At St. Cloud Financial Credit Union, innovation in customer service isn’t about technology alone; it’s about people. SCFCU believes that banking should transcend financial services, crafting genuine human connections that leave a lasting impact. Meyer has championed this philosophy and deeply embedded it in the company culture.
The book ‘Experience Uncommon: Your Story, Our Passion,’ co-authored by Meyer, is a blueprint for the SCFCU team to understand the ‘WHY’ behind what the company does. By prioritizing emotion and the human experience over conventional growth metrics, we ensure that every member feels seen, valued, and understood.
CONTINUOUS INNOVATION
Community feedback drives St. Cloud Financial Credit Union forward. The company believes in standing by the community and being its fabric to make a meaningful difference. Last year, SCFCU contributed more than $87,000 to surrounding communities, over $23,000 to nonprofits, and more than $202,500 to surrounding communities over the last two years. Over 4,400 hours were dedicated by its employees
to volunteering and community service in 2024 alone. By actively engaging with the members and listening to their needs, SCFCU helps build a stronger, more inclusive future for everyone.
WHAT LIES AHEAD?
St. Cloud Financial Credit Union is always looking to the future and ways to adapt to it through innovation and strategy. SCFCU is committed to supporting underserved communities through financial education programs like the new Individual Taxpayer Identification Number (ITIN) Lending Program. The company also believes entering the Cannabis Banking space reflects the credit union’s values.